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Forex pairs in this Article » USD/JPY
FXstreet.com (New York) - The USD/JPY was one of the most active pairs overnight, fluctuating violently despite trading in the region of the 101.00 level as recently as 24 hours ago – now ancient history.

In these moments, the USD/JPY has breached the 99.00 level, succumbing to additional selling pressure as the USD still looks vulnerable after Fed-induced tumble. At this juncture the pair is incurring a loss of -0.95%, operating at 98.70. The fact that the pair recently moved below its 200-day SMA and the 99.28 support (50-day SMA), does not bode well in the short-term.

USD/JPY strategic bias

According to the Technical Analyst Team at ICN.com, “The USD/JPY is attempted to move to the upside and stabilize above 99.30, as stabilizing above it would ultimately fail the intraday negative expectations. However, since the pair failed to stabilize above the referred to level, we will keep our negative expectations for the rest of the day depending on the negativity of Linear Regression Indicators and the Rising Wedge Pattern.”
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